VANDER Legal, the leading law firm of the Kingdom of Mount Vema has confirmed that it plans to float in Gollexi next month, which will make it the first law firm of Mount Vema to go public, as part of a plan to reduce the need to rely on external funders.
The funding will support the growth of the firm, building on its position as the top dispute resolution firms of Mount Vema. Dispute resolution, according VANDER Legal is expected to be a growing market in the territory because of the number of contractors and sub-contractors joining the City of Mount Vema Project.
The law firm whose clients include the top firms of the territory including WIBMOR, W-Contractors, RBMV Bank, and Government Agencies, is expected to formally unveil plans for a ₲100m stock market float this year.
Handy Deed have today come forward with a new proposal to build a fleet of superyachts for W-Southern. The deal would include five new superyachts for the next five years.
The proposal comes after the early design was approved back in November 2017. The design has been teased in a secretive sketch with a few details surrounding the exciting new endeavour. With a modern exterior line, the five-deck superyacht boasts generous open spaces which have been engineered to create the ultimate on-board lifestyle.
The yacht design allows extremely spacious for owners and guests, like the main salon, sky lounge, beach club or the wellness area including 8- meter glass walls pool. Furthermore, the yacht will offer a tender garage for two tenders, rescue boat, and a variety of water toys.
The completion of this new 120-meter superyacht project is scheduled for spring 2021, with more details on the construction, coming soon later this year.
The Vema Seamount Authority has approved a request that authorizes W-Contractors to spend just over 500,000 golles in foreign exchange to pay for an Exploration vessel to be permanently stationed in Mount Vema before the rest of the construction fleet arrives.
More than five ships are expected to arrive later in the year and early next year including cruise ships to be used as floating hotels and floating hospital, supply vessels, work barges and other specialist vessels.
This late announcement is part of the government plan to accelerate funding to purchase ships for the territory, by applying to a new method of purchasing ships for Mount Vema Corporations. Thus, accelerating the availability of capital, so companies can finalize deals to purchase ships before the end of the year.
More funds will be available soon, after a consortium of Mount Vema companies and W-Contractors submit a bid tomorrow to secure enough capital to purchase a fleet of ships. The government aims to negotiate the required contracts in just two weeks, which is much faster than what usually takes months due to the complexity of the contracts. Expenditures for the next five years are expected to near 1 billion golles (about $2 billion USD) in total, significantly more than the original estimate last year.
vonMELYN, the Mount Vema registered company responsible for electricity supply, water, sewage, waste management and recycle, reached out to Siemens, the German company to help build the City of Mount Vema desalination plant.
Saltwater will be desalinated in Mount Vema not only to produce water suitable for human consumption and irrigation, but also to produce salt, the by-product of desalination.
The use of desalinated water for consumption is not new. Desalination is used on many seagoing ships, including cruise ships and submarines. Along with recycled wastewater, desalinated water is one of the few rainfall-independent water sources.
Desalinated water is usually healthier than water from rivers and ground water, and there is less salt and limescale in it. According to the International Desalination Association, in June 2015, 18,426 desalination plants operated worldwide, producing 86.8 million cubic meters per day, providing water for 300 million people.
Seawater desalination according to Siemens, is an energy-intensive and therefore costly process. That’s why energy efficiency plays an extremely important role in ensuring economical plant operation. The company states on its website, that with perfectly matched components such as enclosures, bearings, active parts, ventilation, and cooling system, Siemens can supply the right motor for every need.
The desalination plant, according to people at vonMELYN, may be affordable long term, as it is often unmanned and are managed remotely from a central control room. The main challenge therefore according to Siemens lies in the maintenance and modernization of PC-based control systems.
W-Contractors has approached Cash Processing Solutions (CPS), a strategic partner of De La Rue, to provide an integrated range of hardware and software solution to the Bank of Mount Vema, including consultancy and support services to enable Mount Vema to maintain high-speed cash sorting and authentication systems.
The move was made today after the procurement company expressed its intention to work with De La Rue, the British banknote manufacturing company, that also specialises in security printing of passports, brand authentication and paper-making company with headquarters in the UK.
The services provided by Cash Processing Solutions and De La Rue will help facilitate internal cash-based trade, especially during construction and after to support the internal transactions of goods and services in cash.
Their services would be required as early as August 2018 and latest December 2018, as source from W-Contractors told VSBCnews. These latest contracts are creating new opportunities for many businesses to expand to the Mount Vema market. According to traders at the Gollexi who expect positive changes in the stock market.
RBMV Bank customers can now withdraw money via their mobile phone using their PIN. The new system will allow customers to withdraw up to 300 golles in foreign exchange without putting their card into a machine.
Customers are now able to use their smart phone and input their pin on the ATM app which sends the money to the nearest agent or use code at the nearest ATM part of the RBMV Bank global network.
The RBMV Bank has also unveiled a prototype for a new type of ATM for its agents that does away with a lot of the features you would normally expect to see. It works more like a smartphone or tablet, with a touchscreen display.
The minimalist ATM reminds some of a smartphone, and eliminates the traditional magnetic stripe card reader, receipt printer and pin pad. The concept, according to the bank, meets the needs of its global customers.
The idea is that agents can hold cash in Mount Vema currency or foreign exchange, which is then dispensed as usual to conventional customers who use the mobile ATM. It cuts out the need for security vans to constantly fill cash-hungry machines, while helping the RBMV Bank save money by maintaining fewer or no bank branches.
RBMV Bank, the Royal Bank of Mount Vema has launched a 0% balance transfer card with an introductory interest-free credit card rate that lasts 24 months. Making its card stand out in the Mount Vema credit card market, as there is no fee on the transfer you balance from your existing card.
With City of Mount Vema project participants more willing to take risks as the economy grows, RBMV Bank boasts a wide range of market-leading credit card deals, not only one of today’s most generous all-round 0% credit cards, but with a lengthy interest-free period on both balance transfers and purchases.
Research by financial analysts at the Gollexi shows the number of interest-free balance transfer cards on the Mount Vema market has increased among suppliers, and service providers, and is expected to continue for the next five years.
The Bank of Mount Vema has indicated that so far, the economy can support this trend however, that the territory will not be able to sustain this level of debt beyond 2025, so the Bank will intervene when necessary to prevent borrowers from getting themselves in a spiral of debt as they embark on the path for grow with the Kingdom of Mount Vema.
The government introduced today the Mount Vema ISN (Internal Security Number) system. A unique number to be issued to everyone working for Mount Vema companies and, paid out of the financial system of the Kingdom of Mount Vema.
The Government will issue temporary numbers T-ISNs, and permanent ISNs to enable people to keep the same one all their lives. The system will make sure that what people pay, when paid out of the Mount Vema financial system is properly recorded against their name, by HMVM Revenue Services.
Every Internal Security number is different and, is made up of letters and numbers like this: T-ISN or ISN10-0001-0017-0418-MV. The Internal Security number will never change even if the person leaves the Mount Vema employment system, goes abroad, marry, register as a civil partner, change name, etc, except when the number is issued temporarily (T-ISN) for people who employment with Mount Vema corporations will not require them to relocate to the Kingdom of Mount Vema in the future.
Who will use the Internal Security Number?
A person will have to give his or her Internal Security Number to: HMVM Revenue Services (His Mount Vema Majesty’s Revenue Services), the employer, the Mount Vema Department in charge of pensions, the legal aid services, the state benefits services for Mount Citizens overseas, and other international services including health insurance, education and professional training.
Internal Security contributions are deducted from wages by employers at 10%, from employees working outside Mount Vema, to pay for the systems that supports the enterprises that sustains the economy of the realm and employment. It does not include Income Tax, which is not applicable unless the person lives and works in Mount Vema. This is payable at different rates depending on the income. There are some allowances and reliefs available that can lower the Income Tax bill.
When and how to apply for an Internal Security number.
If you start work, and the advertised job says:
“Although you will not need to relocate to Mount Vema, the job is still classified as a Mount Vema Job Vacancy, so you will be paid in Mount Vema Golles, which requires you to open a Mount Vema bank account which should not be a problem as the employer can organize that for you. Then at the end of the month when you are paid, you can transfer your money into your local bank account in your local currency in full or on as needed bases. Because of this process, your employment should be treated as self-employed whereby you are responsible for your own tax obligations in your country of residence.”
Then you know you must apply for a Mount Vema T-ISN (Temporary - Internal Security Number) which your new employer can help you with in accordance with the length of the contract, by filling out the relevant form on your behalf and submit. You cannot work until your number have been issued.
People are advised to keep their numbers safe and not to give it to anyone who does not need it, to help prevent identity fraud.
RBMV Bank, the Royal Bank of Mount Vema has unveiled its new digital banking service powered by the Mount Vema Central Bank, set to challenge the traditional Mount Vema banking services transforming the way customers manage their money.
The service brings together the best in digital platform, with customer driven design and the support of the Bank of Mount Vema to deliver a service that lets customers take control of their finances no matter where they are.
Its launch follows extensive research over three years to meet the needs of the City of Mount Vema, its institutions, subcontractors and their employees, who needed a banking service that is simple, intuitive and designed to make managing money as easy as possible to carry out on the move.
The new service offers a range of interactive tools designed to give users control of their money on their terms; taking the fear out of finance, enhancing their lives without compromising their lifestyle.
After years of searching for the best way to provide the Kingdom of Mount Vema with a banking system that works with its currency, RBMV Bank said in a statement that, it is proud to introduce the new service, that is different, more intuitive and that will help its customers run their lives, will be the right tool to help the economy of Mount Vema going forward.
GolleCard announced today that it will reopen its payment services on Monday to provide Mount Vema financial institutions with GolleCard-branded payment products that can be used to offer credit to their customers when dealing with the Kingdom of Mount Vema.
GolleCard stopped offering credit card services almost six years ago when His Mount Vema Majesty’s Government and the Central Bank of the Kingdom of Mount Vema decided to restructure the Mount Vema financial system to improve its independent Global settlement of payment services in golles.
The company was granted a new license last week and is ready to reopen for business and to reclaim its place as the leading processor of payments between the banks of merchants and the card issuing banks of the Kingdom of Mount Vema.
His Mount Vema Majesty’s Government Department responsible for territorial management announced plans to train more commercial divers, this year to tackle the shortage of divers in the Mount Vema’s overseas jobs market.
The government plans was announced today when Handy-Deed, the City of Mount Vema project manager share price in the Mount Vema Stock Exchange fell, after the company announced that its campaign to recruit the necessary number of commercial divers to meet its contract obligation with His Mount Vema Majesty’s government failed to attract suitable candidates.
Law of the Sea Treaty (United Nations Convention on the Law of the Sea)
MARPOL 73/78 (International Convention for the Prevention of Pollution from Ships)
The Vienna Convention on Diplomatic Relations of 1961
The Vienna Convention on Consular Relations 1963
The Right to Self-Determination
Many believe because our community is not a member of the United Nations and is only just over a decade old, doing business with the Kingdom of Mount Vema is not possible for foreign nationals and foreign companies seeking to take advantage of the business opportunities the floating city project is creating. Nothing could be further from the truth. The territory doesn't need a United Nations membership to function as a sovereign territory, or to exercise its inalienable right for self-determination